Tax payments by Armenian banks up 6.3% per annum

ArmInfo. Armenia's banking sector paid 31.9 billion drams to the state budget for 9 months of 2015, which is by 6.3% more than a year ago. Profit and incomes taxes accounted for 28.9 billion drams of total. According to the State Revenue Committee of Armenia, 14 (vs.  11 for 9 months of 2014) out of 21 operating banks were listed among top 100 of taxpayers in Armenia for 9 months of 2015.  Ameriabank, Ardshinbank, VTB Bank (Armenia), HSBC Bank Armenia, and Armbusinessbank were top five of largest taxpayer-banks in Armenia. 

Ameriabank retained its leadership position. It took the 15th place among the biggest taxpayers by paying 4.4 billion drams, of which 4.3 billion drams are profit and income taxes. Then goes Ardshinbank  - 23rd place - 3.4 billion drams, of which 2.9 billion drams were income and profits taxes. VTB Bank (Armenia) - 26th - 3.1 billion drams, of which 2.6 billion drams were income and profits taxes.  Armbusinessbank rounds out the top five taxpayer banks - 32nd place - 2.8 billion drams, of which 2.7 billion drams were profit tax and income tax. 

ACBA-Credit Agricole Bank was listed among top 100 taxpayers in Armenia. The bank took the 38th place paying 2.3 billion drams, of which 2.1 billion drams were profit tax and income tax. Unibank was the 53rd with 1.711 billion drams (1.5 bln drams profit tax and income tax). INECOBANK was the 55th with 1.7 bln drams (1.6 bln drams profit tax and income tax). ARARATBANK was 63rd with 1.340 bln drams (1.2 bln drams profit tax and income tax). Converse Bank was 67th with 1.3 bln drams (1.1 bln drams profit tax and income tax).  Armeconombank was 69th with 1.2 bln drams (1.1bln drams profit tax and income tax). Anelik Bank was the 82nd with 1.1 bln drams (878 mln drams profit tax and income tax), ArmSwissbank was 89th with 998.5 mln drams (974.6 mln drams profit tax and income tax), and Areximbank -Gazprombank Group was the 90th with 993.3 mln drams (843.2 mln drams profit tax and income tax).

Then go Armenian Development Bank (105th place - 797.6 mln drams, of which 768.5 mln drams were profit tax and income tax.), Prometey Bank (157th place, of which 521.8 mln drams were profit tax and income tax), ProCredit Bank (207th place - 422.9 mln drams, of which 341.1 mln drams were profit tax and income tax), Byblos Bank Armenia (221st place - 394.7 mln drams, of which  363.4 mln drams were profit tax and income tax), Artsakhbank ( 458th place - (171.4 mln drams, of which 158.9 mln drams were profit tax and income tax), Mellat Bank (560th place (136.5 mln drams, of which 132.6 mln drams were profit tax and income tax).

According to ArmInfo's Financial Rating of Armenian Banks, the aggregate accumulated profits of Armenia's banking sector for 9 months of 2015 totaled 161 bln drams, a 3.9% decline year over year.  Top five banks by accumulated profits are HSBC Bank Armenia - 31.3 bln drams, Ardshinbank - 25.9bln drams, Ameriabank - 21.8 bln drams, INECOBANK - 13.6 bln, ACBA-Credit Agricole Bank - 13.1 bln drams.  Leaders by balance profits for 9 months of 2015 are HSBC Bank Armenia, Ameriabank, INECOBANK, Ardshinbank, and Armbusinessbank.   

By data of the Armenian Central Bank, the exchange rate as of Sept 30 2015 totaled 473.71AMD/1 USD.